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Morning Market Movers

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MediciNova (NASDAQ: MNOV) rose 87.86% to $4.04 after the company reported positive results for MN-001.

Ocean Power Technologies (NASDAQ: OPTT) jumped 43.44% to $3.17 after the company announced a funding agreement with Australian government for A$66.5 million grant.

Echelon (NASDAQ: ELON) moved up 30.84% to $2.97 after Google (NASDAQ: GOOG) announced its plans to acquire Nest Labs for $3.2 billion.

Control4 (NASDAQ: CTRL) shares jumped 17.65% to $21.80. Control4's PEG ratio is 2.99.

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